05/01/2026
If you missed the April 30th deadline and owe tax, the Canada Revenue Agency (CRA) will charge a late-filing penalty of 5% on your 2025 balance, plus 1% for each full month late (up to 12 months). Interest also compounds daily on unpaid amounts, and your benefits (like the Canada Child Benefit) may be delayed.
Key Consequences of Missing the Deadline:
- Late-Filing Penalty: 5% of your balance owing + 1% for each month late (up to 12 months).
- Repeated Penalties: If you were penalized in 2022, 2023, or 2024, the penalty doubles to 10% + 2% per month.
- Interest: Interest is charged on both the unpaid tax and the penalties.
- Benefit Disruptions: Payments for Canada Child Benefit, GST/HST credits, and other benefits may be delayed.
- No Penalty if Refund: If you are getting a refund, there is no penalty for filing late.
What You Should Do Now:
- File Immediately: Even if you cannot pay the full amount, file immediately to stop the late-filing penalty from increasing.
- Pay What You Can: Pay as much as possible to minimize interest.
- Contact the CRA: If you cannot pay, you can make payment arrangements with the CRA.
We offer flexible options:
- In-office appointments
- Drop-off service
- Remote filing
Feel free to call, email, or visit us to get your taxes filed on time:
📞 416-731-6192
📍 3458 Danforth Avenue, Scarborough, ON M1L 1E1
✉️ [email protected].
www.amintax.com
Amin Tax & Accounting Services
